Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest

NOTICE OF A CHANGE IN THE PERCENTAGE LEVEL OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

Name of Announcer	SINGAPORE LAND LIMITED
Company Registration No.	196300170C
Announcement submitted on behalf of	SINGAPORE LAND LIMITED
Announcement is submitted with respect to	SINGAPORE LAND LIMITED
Announcement is submitted by	Susie Koh
Designation	Company Secretary
Date & Time of Broadcast	11-Mar-2011 17:17:00
Announcement No.	00072

>> Announcement Details

>> PART I

1.	Date of notice to issuer *	11-03-2011
2.	Name of Substantial Shareholder *	Telegraph Developments Limited ("Telegraph"). JG Summit Philippines Limited ("JGSP") and JG Summit Holdings, Inc ("JGSH") have deemed interest in Singapore Land Limited's ("Singland") shares in which Telegraph has a deemed interest in.
3.	Please tick one or more appropriate box(es):	Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> PART II

1.	Date of change of [Select Option]
2.	Name of Registered Holder
3.	Circumstance(s) giving rise to the interest or change in interest
	# Please specify details
4.	Information relating to shares held in the name of the Registered Holder
	No. of [Select Option] held before the change
	As a percentage of issued share capital
	No. of N.A. which are subject of this notice
	As a percentage of issued share capital
	Amount of consideration (excluding brokerage and stamp duties) per share paid or received
	No. of N.A. held after the change
	As a percentage of issued share capital

>> PART III

1.	Date of change of Interest	10-03-2011
2.	The change in the percentage level	From 76.995 % To 77.143 %
3.	Circumstance(s) giving rise to the interest or change in interest	# Others
	# Please specify details	Open Market Purchase of 610,000 Singapore Land Limited ("Singland") shares by UIC Enterprise Pte Ltd
4.	A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:	A series of transactions.

>> PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :
		Direct	Deemed
	No. of shares held before the change	0	317,588,384
	As a percentage of issued share capital	0 %	76.995 %
	No. of shares held after the change	0	318,198,384
	As a percentage of issued share capital	0 %	77.143 %

>> Footnotes

a. The deemed interest of 318,198,384 Singland shares held after the change were acquired by wholly-owned subsidiaries of United Industrial Corporation Limited ("UIC"), namely, UIC Investment Pte Ltd (152,500 shares), UIC Development (Private) Limited (85,643,196 shares) and UIC Enterprise Pte Ltd (232,402,688 shares).

b. By virtue of Section 7 of the Companies Act, Cap. 50, Telegraph is deemed to have an interest in Singland shares held by UIC.

JGSP the holding company of Telegraph and JGSH the holding company of JGSP are deemed to have an interest in the Singland shares held by UIC.

Dr John Gokongwei, Jr. is deemed to have an interest in the Singland shares, by virtue of his interest of not less than 20% of the voting shares in JGSH.

c. The percentages are computed based on Singland's issued and paid up shares of 412,477,559 as at 10 March 2011.